That is bullionmark's words, not ours. If there was a global silver shortage we wouldn't be making any silver products We are in the process of setting up new production facilities for silver bar production and that may cause intermittent stock outs over the next few months. The day we can't get silver out of bullion banks in London is the day we would shut down Depository to new inflows and go on coin and bar rationing. Not seeing that happening.
Just saying......... all this years Perth Mint deliveries have come within 7-10 days (Adelaide) ordering online... today's the tenth day since my last order of 10oz bars and....not here. ( Are we entering new ground? )
Read this http://www.perthmintbullion.com/Blog/Blog/11-02-28/Understanding_Unallocated.aspx The 27000 is dollars - $27 million. It is value of metal we own outright (long position in this case), nothing to do with unallocated storage.
Don't know, depends on how/when they start setting up the new production line and move bits over. Capacity is reduced so I can see stock outs if demand is high and then stock available if demand drops for a bit. Refinery says new production line should be fully running July.
delivery times blew out to a couple of months during 2008/9 when silver demand went up a lot. They have geared up a lot since then though as demand has stayed very strong by the looks.
Retail shop (not online) system from what I see says have stock of 10oz, 20oz & 100oz. Doesn't tell me if there is anything on backorder.
Hmmm.... that saying... i wonder if the buy/sell threads on SS will be working overtime with inflated prices if certain things become hard to get while the mints house gets in order ?
According to Murphy's Law and the "Mintingberg Omen", I am about 95% sure that the silver price will collapse just before July. The Mintingberg Omen is like the http://en.wikipedia.org/wiki/Hindenburg_Omen (a technical analysis pattern that is said to portend a stock market crash) but applies to mints. It says that demand for your product will crash just when you have finished installing new production capacity. The Mintingberg Omen applies to the Perth Mint at this time because we are in the final stages of commissioning our new thousand tonne coin press and in July will have finished our new silver bar production line. The conjunction of both of these new equipment expenditures at the same time during a period of rapid silver price increases and strong demand is very powerful and hence my 95% certainty rating. I very rarely give out price predictions. You have been warned.
I love that bit of "crystal ball" gazing, thanks Bron. A "Mintingberg" is kind of like what the Titanic bumped into?
Just got back from the mint.. No 1kg bars available. Three week wait. They had a draw full of 10oz & fair few 20's from what I could see.
I don't understand. Are you just talking about jewellery stones? What do you mean by "set stones in jewellery". For example, I can't see a shortage of supply resulting in lower prices for industrial diamonds or garnet, unless that product can be easily substituted. Likewise, if industrial demand for Ag remains and there is no viable, cost effective or even as effective alternative, then a shortage of material must increase cost of supply. So can't see how your theory can hold in regards to precious metal.
Silver was just on ABC, talking about 119% gains compared to golds 19% Ps. Are 1oz Morgan bars easily sellable? They seem a lot cheaper than many other options and have therefore taken my fancy as of late. Are they as popular as their price would usually attract?
I can only guess as to Bron's thoughts. "Their website said what? They'll be rioting over at SS. Oh dear. I better log in and set the record straight." Bron swivels over to laptop, which happens to be sitting on coffee table made from 10kg silver coin.
grinners - I just got back from the mint, bought some bars & I saw in the draw they had lots of 10oz & some 20's. If you called them up & they said they didn't have any, maby that's for freighted orders? Gaz
